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taxes are highest for any developing country. >> on paper. those who pay taxes. but there are so many people who don't pay taxes at all. >> taxes are very high in brazil >> rose: as bad as greece? >> i don't think it's as bad as greece but it's a problem. >> there are a few people paying lots of taxes and they're demanding to get quality public services and they're not getting them in return. but the fact of the matter is there that there's one common element that brazil does have that it has with a country such as egypt that is huge amount of government spending and very little investment. investment as a share of its economy is the lowest among any developing country and infrastructure spending is among the lowest. so people understand the right to demand that you better get better public services for the people who do pay taxes they carry the burden a lot. >> rose: paulo, how do you measure the size and power of these demonstrations in comparison to other demonstrations in brazilian history? >> well, one in rio it's estimated now there were 700,000 people. the
taxes are highest for any developing country. >> on paper. those who pay taxes. but there are so many people who don't pay taxes at all. >> taxes are very high in brazil >> rose: as bad as greece? >> i don't think it's as bad as greece but it's a problem. >> there are a few people paying lots of taxes and they're demanding to get quality public services and they're not getting them in return. but the fact of the matter is there that there's one common element that...
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Jun 28, 2013
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that's all they care about, should they buy individual uni bonds if it helps them from a tax advantage standpoint or go into a fund? >> right now, this week, at the beginning of the week there was some bonds -- this is a very heavy volume week and that's coincidence unrelated to announcements by the fed and so on. that bonds got very cheap, and so retail investors saw the after tax advantage of purchasing individual bonds. you know, we would say as far as those that hold funds that it's extremely hard to time the market. you can't just say well, i lost. i got to get out because you don't know what will happen next week, next month and so on. so yes, we all believe that interest rates are going to be rising at some point in the future. they have risen in the last two weeks, and have steadily. so, you know, you need to position yourself with diversity in terms of length of time, shorter medium term and so on. >> you know, natalee, you've been talking about fundamentals of investing in uni bonds. as investors see headlines, states have more surpluses, that's good news and headlines of cit
that's all they care about, should they buy individual uni bonds if it helps them from a tax advantage standpoint or go into a fund? >> right now, this week, at the beginning of the week there was some bonds -- this is a very heavy volume week and that's coincidence unrelated to announcements by the fed and so on. that bonds got very cheap, and so retail investors saw the after tax advantage of purchasing individual bonds. you know, we would say as far as those that hold funds that it's...
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Jul 1, 2013
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california residents pay the highest gas tax in the country. more than 70 cents a gallon after federal and new state taxes are added in. state officials say the increase was necessary to make up for a gas tax or revenue shortfall last year. along with projections for even lower fuel consumption. what's going on here? californians are driving more fuel efficient cars. >> at the opposite end of fuel efficiency. big recreational vehicles sales are soaring thanks to pent up demand and the desire to camp out in comfort. winnebago's stock is soaring, and it's backlog of orders have tripled in the last few years. phil lebeau has more. >> at the camping world rv lot, business is booming. >> our business has been up month over month. this year we're up approximately 20%. >> walk into the latest rv's and it's almost like walking into your kitchen or living room. large flat screen tv's, stainless steel appliances, and leather chairs. increasingly, rv buyers want comfort and connectivity. >> it's very much -- a little bit of showmanship when they get to th
california residents pay the highest gas tax in the country. more than 70 cents a gallon after federal and new state taxes are added in. state officials say the increase was necessary to make up for a gas tax or revenue shortfall last year. along with projections for even lower fuel consumption. what's going on here? californians are driving more fuel efficient cars. >> at the opposite end of fuel efficiency. big recreational vehicles sales are soaring thanks to pent up demand and the...
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Jun 30, 2013
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along with it came a federal estate tax of $363,000. had thea been male, edie would have qualified for the federal exemption, but under doma she had to pay. this week the supreme court found such disparate treatment violates the constitution's guarantees of liberty and equality. in new york, edie windsor said she cried when she learned of the high court's decision. >> we won everything we asked and hoped for. wow! >> reporter: the opinion was written by justice anthony kennedy, who concluded "that the principal purpose and the necessary effect of this law are to demean those persons who are in a lawful same-sex marriage." kennedy, a reagan appointee, is now emerging as the court's resident champion for gay rights. this is the third major case in which he has provided the critical fifth vote for victory. >> it took less than five years to strike down proposition 8 and to restore marriage equality to the most populous state in this land. so today, let's set a new goal. within five years, we will bring marriage equality to all 50 states in
along with it came a federal estate tax of $363,000. had thea been male, edie would have qualified for the federal exemption, but under doma she had to pay. this week the supreme court found such disparate treatment violates the constitution's guarantees of liberty and equality. in new york, edie windsor said she cried when she learned of the high court's decision. >> we won everything we asked and hoped for. wow! >> reporter: the opinion was written by justice anthony kennedy, who...
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Jun 30, 2013
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potential investors are put off by high tax rates and excessive red tape. and it's not just investors were shifting to croatia. italians can buy upscale homes there at low prices. she sells vacation apartments. booming business is expected. >> back then private individuals from italy could not buy anything in croatia. you had to use middle name or real estate firms -- middle men or real estate firms. those obstacles are gone now thanks to croatia joining the eu . >> the region has a history as a melting pot. italians, croats, lived here as friends. that peaceful coexistence was shattered in the second world war when hitler and mussolini invaded and occupied yugoslavia. towards the end of the war, yugoslav partisans committed mass killings of italians, throwing them into deep pits and ryan shafts -- rhine shafts. there is never beneficial reconciliation over the fence -- the events. >> relations between italian and croatian individuals are far from held dear. >> he has a multinational patient base and he is delighted to finally see croatia admitted to the eu
potential investors are put off by high tax rates and excessive red tape. and it's not just investors were shifting to croatia. italians can buy upscale homes there at low prices. she sells vacation apartments. booming business is expected. >> back then private individuals from italy could not buy anything in croatia. you had to use middle name or real estate firms -- middle men or real estate firms. those obstacles are gone now thanks to croatia joining the eu . >> the region has a...
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Jul 5, 2013
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it could mean more jobs, more growth and more tax revenue. due to past practices, florida lost close to 50% of the shorelines, home to many species worth thousands of dollars. a guy travels to florida to fish for a big fish but the existence begins with the decision not to destroy a man grove. >> you don't have to pay to build roads, pay to have a big police force, run sewer and that stuff, as long as the habitats are healthy, it's basically free. >> reporter: for "nightly business report," i'm steve liesm liesman. >>> coming up, meet the woman that put a modern twist on an age-old shoe and turned it into a successful business but first how treasuries, commodities and currencies faired today. >> good news this evening for commuters in san francisco. rail service is scheduled to resume in time for this evening's rush hour after striking unions agreed with the bay area known as bart to extend a labor contract for 30 more days while both sides continue to meet at the bargaining table. >>> well, you may want to take bart tonight if you're driving
it could mean more jobs, more growth and more tax revenue. due to past practices, florida lost close to 50% of the shorelines, home to many species worth thousands of dollars. a guy travels to florida to fish for a big fish but the existence begins with the decision not to destroy a man grove. >> you don't have to pay to build roads, pay to have a big police force, run sewer and that stuff, as long as the habitats are healthy, it's basically free. >> reporter: for "nightly...
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Jun 27, 2013
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tax bill. her spouse left her, edith, her estate. she prevailed in the lower courts. they found that section 3 of doma was unconstitutional and the case came to the supreme court with a problem, just as the other case from california came to the court with a problem. in the doma case, by the time the case got to the supreme court, the united states had stopped defending doma. so the first hurdle the court faced was whether it actually had a case or controversy before it since the united states agreed we dith windsor that doma was unconstitutional. justice kennedy today found there still was a stake for the federal government in this case. the i.r.s.' tax bill. so he was able to reach the merits of the question that edith windsor had initially raised about doma's constitutionality. >> ifill: as ray said, proposition 8 was mostly about the that they didn't have the standing to even bring this case to where it ended up being so they kicked it back down for the courts in california to decide. >> ri
tax bill. her spouse left her, edith, her estate. she prevailed in the lower courts. they found that section 3 of doma was unconstitutional and the case came to the supreme court with a problem, just as the other case from california came to the court with a problem. in the doma case, by the time the case got to the supreme court, the united states had stopped defending doma. so the first hurdle the court faced was whether it actually had a case or controversy before it since the united states...
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Jun 30, 2013
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legally, prior to this ruling, doma denied federal benefits to state married homosexuals, including tax breaks that are extended to heterosexual couples. because of the 5th amendment to the constitution, quote, no person shall be deprived of life, liberty or property, unquote. if marriage is defined as heterosexual only, that is between a woman and a man, then a homosexual union is unconstitutionally stripped of the rights to cross gender married couples. the majority of opinion said this places same sex couples in of being a marriage. it de means the couple that the constitution protects and humiliates tens of thousands of children now being raised by same-sex couples, unquote. anthony spoke for the descent. side swiping kennedy in the process. to defend traditional marriage is not to condemn, demeanor humiliate those that want other arrangements. to hurl such accusations casually de means the institution. >> question, what is the practical effect of this supreme court ruling? mortimer zuckerman. >> it's going to open up a struggle in so many different states now, 30-odd states that do
legally, prior to this ruling, doma denied federal benefits to state married homosexuals, including tax breaks that are extended to heterosexual couples. because of the 5th amendment to the constitution, quote, no person shall be deprived of life, liberty or property, unquote. if marriage is defined as heterosexual only, that is between a woman and a man, then a homosexual union is unconstitutionally stripped of the rights to cross gender married couples. the majority of opinion said this...
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it provides relief for small businesses, those small businesses with fewer than 25 workers they get tax credit subsidies to help pay for the coverage for their workers. today under affordable compare act they can get as much has 35% of the costs. coming january 1, it will be 50%. so the real problem with respect to employers is really being addressed and we'll continue to be addressed. >> now, like many of the provisions of the affordable compare act there is what is promised and what's differed that example is the small business tax credits. plenty of reviews, the take up of it is microscopic compared to what was expected. gao reports on that, just like we had a different, a fund for preexisting conditions it turned out fewer people enrolled and they blew out their budget. supposed to be a requirement in the new exchange for businesses that employees would have a choice of plans, sorry we can't get to that this year. so what we have is time after time what's being promised in the early stages, that can't be executed. >> ifill: if there is blood in the water what is next? >> what is nex
it provides relief for small businesses, those small businesses with fewer than 25 workers they get tax credit subsidies to help pay for the coverage for their workers. today under affordable compare act they can get as much has 35% of the costs. coming january 1, it will be 50%. so the real problem with respect to employers is really being addressed and we'll continue to be addressed. >> now, like many of the provisions of the affordable compare act there is what is promised and what's...
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. >> reporter: add to that hopes by the president to reduce tax breaks for private plane's use for business and the flight plan for growth could hit turbulence, just as it was starting to regain altitude. >>> and finally tonight, the statute of liberty closed since super storm sandy flooded liberty island back in october will reopen to the public tomorrow, just in time to celebrate the 4th of july. officials are bracing for big crowds to visit the monument because it had been closed for more than a year to make repairs and reopen just a day before that storm hit. and for a woman whose nearly 127 years old, lady liberty looks pretty good, isn't she tyler? >> always does, always does. >> that's "nightly business report" for tonight, thanks for watchi watching. >> we'll be here tomorrow night for a special edition of "nightly business report." hope you join us. have a great night everybody. >>> "nightly business report" has been brought to you by -- >> sailing through the heart of historic cities and landscapes on a river you get close to iconic landmarks, to local life, to cultural treasures.
. >> reporter: add to that hopes by the president to reduce tax breaks for private plane's use for business and the flight plan for growth could hit turbulence, just as it was starting to regain altitude. >>> and finally tonight, the statute of liberty closed since super storm sandy flooded liberty island back in october will reopen to the public tomorrow, just in time to celebrate the 4th of july. officials are bracing for big crowds to visit the monument because it had been...
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Jul 2, 2013
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but even if it's simple things like income tax cuts or payroll tax cuts that's going to put more spending into the economy. at a time when the economy needs it. >> by the way i think there's plenty of blame to go around on both sides here. it takes two to tango. it takes a white house to take part in forging a long-term deficit reduction plan. so i don't think you can put the blame on one side here. i mean the republicans have been talking about entitlement reform which has been very difficult thing for democrats to swallow. >> charlie: when i did an interview with the -- and i mean this real he'll curiously. the suggestion was that bernanke may not want to be reappointed. is that an accurate reflection of been bernanke. >> i can't get into his mind but... >> charlie: if you can't, who can? >> look, he's probably been under stress more stress than any domestic policy maker in the post war world. when you think about what he's been through. first the worst financial crisis since the great depression. then a rather significant political crisis. to have to deal with all of that for eight yea
but even if it's simple things like income tax cuts or payroll tax cuts that's going to put more spending into the economy. at a time when the economy needs it. >> by the way i think there's plenty of blame to go around on both sides here. it takes two to tango. it takes a white house to take part in forging a long-term deficit reduction plan. so i don't think you can put the blame on one side here. i mean the republicans have been talking about entitlement reform which has been very...
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Jul 5, 2013
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and you're taxes us with -- and we have no choice in that and you're taxing us to pay your own bills back home. why should we pick up the tab for your expenditures in england when we have no part in that life, most of just never seen england and, besides, it's probably time we started our own country. >> rose: no taxation without representation. >> yes. and when they say free and independent the consent isn't they can't be free unless they're inspect and they can't generate the moral fire, the morale, let's say the spirit to fight a war unless they're fighting for independence. so they have to do it in order to give spirit to the army and they won't be able to get help from abroad, namely, france, if they don't declare their independence because france is not about to come in and give financial and military support to a country's going to make up and go back and be part of england again. the french support of our american revolution-- which it was essential to our victory in the american revolution-- was primarily as a way for the french to get at the english. they weren't anxious fo
and you're taxes us with -- and we have no choice in that and you're taxing us to pay your own bills back home. why should we pick up the tab for your expenditures in england when we have no part in that life, most of just never seen england and, besides, it's probably time we started our own country. >> rose: no taxation without representation. >> yes. and when they say free and independent the consent isn't they can't be free unless they're inspect and they can't generate the...
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if they oppose, they are risking their tax status and ought to shut up.>> let's take a look at the court's ruling on voting rights. >> i'm deeply disappointed with the court's decision in this manner. it sets back voting rights. it has the potential to negatively affect millions of americans across the country. >> we should not be judged by the mississippi of 50 or 60 years ago. >> attorney general holder. alanlican congressman nunnelee. chief justice roberts is history did not end in 1955, the year congress passed the voting rights act. your response. >> that is his view of america. america has used decisions to continue accept his nomination-- find acts of discrimination in the so-called seachange states like alabama. the records show that our continued acts of discrimination that the justice department has blocked because they were able to use section four or five to go in there and block discriminatory steps taken by the state. they talk about as if something wonderful has happened in the last 20 years. the reason something wonderful has happened is because of the voting rights act. th
if they oppose, they are risking their tax status and ought to shut up.>> let's take a look at the court's ruling on voting rights. >> i'm deeply disappointed with the court's decision in this manner. it sets back voting rights. it has the potential to negatively affect millions of americans across the country. >> we should not be judged by the mississippi of 50 or 60 years ago. >> attorney general holder. alanlican congressman nunnelee. chief justice roberts is history...
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deficit in portugal has been trying to rebuild its economy with tax increases and reduction of public servants. the natio has been receiving loans totaling $78 billion euros from the eu and other organizations. >>> on monday, finance minister gaspar stepped down, saying had he drawn public criticism. he has been a major driving force behind the government's austerity measures. on the following day, foreign minister apollo portus resigned. there was a new finance minister to continue the austerity measures. the opposition camp is calling for dissolving parliament and holding a general election. >>> prime minister cuello stressed tuesday he had no intention to dissolve parliament. he also said he will not accept the foreign minister's resignation and will try to persuade him to stay in office. >>> more headlines for you in business next hour. here's another check on markets. >>> the man who disclosed u.s. government surveillance programs has sought asylum from 21 countries. the former national security agency contractor, edward snowden, has already withdrawn his request from one. he say
deficit in portugal has been trying to rebuild its economy with tax increases and reduction of public servants. the natio has been receiving loans totaling $78 billion euros from the eu and other organizations. >>> on monday, finance minister gaspar stepped down, saying had he drawn public criticism. he has been a major driving force behind the government's austerity measures. on the following day, foreign minister apollo portus resigned. there was a new finance minister to continue...
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as much as we've seen a lot of clarity on the political front with the tax deal that we had earlier this year and we know for sure that has gone through, i think the next big thing for the markets and for the economy more generally is what happens in september, october when we have to get the budget deal done. if there's a risk of a government shut down, then i think that would possibly delay investment and hiring decision. similarly, if we do have the government breach it's limit, hit the debt ceiling without it being raised, that would increase volatility in the market. >> lots of good information. so good of you to come by. happy 4th of july. >> thanks for having me. >>> and one thing many feared would hurt the economy was the government's automatic budget cuts, better known as that sequester and while the sequester hasn't hood the dire impact so far that many had predicted, one thing has become clear, the defense sector is starting to feel the pinch. jane wells has more. >> reporter: here is what to watch for in the defense sector in the quarter ahead. pentagon cuts are slowly nippin
as much as we've seen a lot of clarity on the political front with the tax deal that we had earlier this year and we know for sure that has gone through, i think the next big thing for the markets and for the economy more generally is what happens in september, october when we have to get the budget deal done. if there's a risk of a government shut down, then i think that would possibly delay investment and hiring decision. similarly, if we do have the government breach it's limit, hit the debt...
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. >> so, ediesprks windsor, married her longtime partner, and when she died, edie windsor got a tax bill for more than $360,000 that a straight couple who was married in new york would not have had to pay. but under the defense of marriage act, the federal law that confines federal benefits to only straight couples, she had to pay that amount of money. and that's just one example of a thousand different federal laws that under the defense of marriage act struck down today treats married gay couples and married straight couples differently. >> rose: so married gay couples will now have the same rights as married straight couples, entitled to all benefits that married straight couples have. >> that's right. so in 12-- and with california, 13 states they will have full marriage. they won't have the kind of marriage that justice ginsburg called skim milk marriage, married for state purposes but not federal purposes. what the ruling doesn't do is tell other states they have to marry same-sex couples. >> rose: the decision was written by justice kennedy, so-called swing justice. how did he com
. >> so, ediesprks windsor, married her longtime partner, and when she died, edie windsor got a tax bill for more than $360,000 that a straight couple who was married in new york would not have had to pay. but under the defense of marriage act, the federal law that confines federal benefits to only straight couples, she had to pay that amount of money. and that's just one example of a thousand different federal laws that under the defense of marriage act struck down today treats married...
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fiscal policy in some respects is threatened by the possible increase in the consumption tax. but you know, structural reform in china and also in japan has always been a massive problem. the interlocked business groups, the entrenched business interests, the everyone ehe agriculture as inte well which mr. abe is trying to take on, i guess, from the back door, from the outside by joining the transpacific partnership. i think that's where the really hard political work is to be done. and martin would know more about this at the moment but i think that's always been diffilt with the political system they've got at the moment which has become progressively more unstable, more fractious, in the past 15, 20 years since the ldp, i guess, fell apart and put itself back together again. >> go ahead, the politics of january an today. >> well, first of all, i would say right now while the politics of japan have been incredibly fractious and we have had 22 prime ministers over-- 18 prime ministers in 22 years, modern day asian record in japan. but right abe has smooth sailing. he's about
fiscal policy in some respects is threatened by the possible increase in the consumption tax. but you know, structural reform in china and also in japan has always been a massive problem. the interlocked business groups, the entrenched business interests, the everyone ehe agriculture as inte well which mr. abe is trying to take on, i guess, from the back door, from the outside by joining the transpacific partnership. i think that's where the really hard political work is to be done. and martin...
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russell george said only six progressive groups who applied for tax-exempt status were scrutinized compared to some 300 conservative groups. meanwhile, the new head of the i.r.s.-- danny werfel-- faced criticism at a congressional hearing over his report about the activities released on monday. >> you're not conducting interviews, you don't know answers to the key questions, yet in the report, you declare there is no evidence of intentional wrongdoing or misconduct on the part of irs personnel. no evidence of intentional wrongdoing. mr. werfel, this report is a sham. >> the notion that no witnesses are being interviewed is not accurate. the accurate answer is that witnesses are being interviewed whether i am personally sitting across the table or not from interviewing. i would love to be able to but the reality is i am going to follow the process and the rule of law to get to the bottom of it. and one of the constraints i have is i have to let professional investigators do the interviewing and that's a constraint i'm willing to live with. >> holman: the i.r.s. practices were roundly condemn
russell george said only six progressive groups who applied for tax-exempt status were scrutinized compared to some 300 conservative groups. meanwhile, the new head of the i.r.s.-- danny werfel-- faced criticism at a congressional hearing over his report about the activities released on monday. >> you're not conducting interviews, you don't know answers to the key questions, yet in the report, you declare there is no evidence of intentional wrongdoing or misconduct on the part of irs...
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i don't kn what a phony tax cut is. this is a tax cut. this is what we are recommending. >> of coue, it would help. ne other than john f. kennedy said it would help. u.s. news and world report were so astonished with the canadian tax cuts. they put on the cover. kennedy cut taxes and the jobless rate sunk to thr percent and you saw rapid economic growth and saw it also in the reagan years. i say turn the u.s. in a tax haven like ireland and you will see the economy boom. we tried everything else and why not this. >> we have been printing money like crazy. the stock market when they got the news of the economy slowing down they boom, ben bernanke would print more money and that is not helping. >> no, it is not. and that is why personal take home pay per capita is the same point as it was in 2011. false economy where the fed came in and botched the credit markets hasn't helped and what we must do first and foremost, get rid of obama care. the surx on invest sxment medical dwois tax and payroll tax for medicare, they hurt job investment and
i don't kn what a phony tax cut is. this is a tax cut. this is what we are recommending. >> of coue, it would help. ne other than john f. kennedy said it would help. u.s. news and world report were so astonished with the canadian tax cuts. they put on the cover. kennedy cut taxes and the jobless rate sunk to thr percent and you saw rapid economic growth and saw it also in the reagan years. i say turn the u.s. in a tax haven like ireland and you will see the economy boom. we tried...
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on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union members starting in the one nine hundred thirty s. at one targeting power or wages working conditions and benefits but instead of negotiation big business want to control. blue is the poll memo business men should use their financial muscle to shape the politics of the country nor should there be reluctance to penalize politically those who oppose it why nine hundred seventy eight business outspent organized labor three to one to defeat a bill that would have made it easier for workers to join unions this was a critical turning point setting in motion the decline of organized labor as a major political force and the voice of working americans. douglas frazier president of the united auto workers said in a magazine interview. at the time i beli
on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union members starting in the one nine hundred thirty s. at one targeting power or wages working conditions and benefits but instead of negotiation big...
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on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union. members starting in the one nine hundred thirty s. at one targeting power or wages working conditions and benefits but instead a negotiation big business want to control. blue as the palm. business men should use their financial muscle to shape the politics of the country nor should there be reluctance to penalize politically those who oppose it by nine hundred seventy eight business outspent organized labor three to one to defeat a bill that would have made it easier for workers to join unions this was a critical turning point setting in motion the decline of organized labor as a major political force and the voice of working americans. douglas frazier president of the united auto workers said in a magazine interview at the time i believe le
on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union. members starting in the one nine hundred thirty s. at one targeting power or wages working conditions and benefits but instead a negotiation big...
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major corporations in this country are required to pay a thirty five percent tax rate but according to the government accountability office some profitable u.s. companies paid half of that rate in two thousand and ten we're talking about companies like wal-mart apple google who are finding loopholes in the tax system to avoid paying their required tax rate so what gives and how are these companies getting away with this i was joined earlier by author and economist dean baker who filled us in on the latest. paul there's a whole slew of loopholes that these companies have become absolutely expert in taking advantage of for example general electric often pays no taxes when the most profitable country companies in the country often they're able to find ways to hide their profits and and of paying little or no no no taxes one of the main ones of simply as long as you keep profits overseas you don't have to pay tax on that many companies have taken advantage of that to keep much their profits overseas also one of their standard tricks apple's done this with great with great success they decl
major corporations in this country are required to pay a thirty five percent tax rate but according to the government accountability office some profitable u.s. companies paid half of that rate in two thousand and ten we're talking about companies like wal-mart apple google who are finding loopholes in the tax system to avoid paying their required tax rate so what gives and how are these companies getting away with this i was joined earlier by author and economist dean baker who filled us in on...
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on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. and the. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union members starting in the one nine hundred thirty s. that ones are getting power or wages working conditions and benefits but instead of negotiation big business want to control. lewis powell the poll memo businessman should use their financial muscle to shape the politics of the country nor should there be reluctance to penalize politically those who oppose it why nine hundred seventy eight business outspent organized labor three to one to defeat a bill that would have made it easier for workers to join unions this was a critical turning point setting in motion the decline of organized labor as a major political force and the voice of working americans. douglas frazier president of the united auto workers said in a magazine interview.
on rich people trickle down economics cut capital gains taxes cut dividend taxes cut income taxes and the economy will flourish some of the democrats start drinking the kool-aid along with the republicans. and the. next big business set its sights on the biggest threat to their bottom line the wages and benefits of the american workforce especially union members starting in the one nine hundred thirty s. that ones are getting power or wages working conditions and benefits but instead of...
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code so the doma law still keeps in place for example the other tax laws that relate to taxing of couples and so that's why again these same sex couples will be subject to the marriage penalty if they hit that one hundred fifty thousand dollars per per year income level which many will and we have just about thirty seconds left but we have to talk on prop eight which the supreme court said they were not going to rule on because what it is it's a win is a lose where are we with it's complicated the prop eight the supreme court decision was that they were not going to review the challenge to prop eight prop eight was passed by california voters to ban same sex marriages the deep. the folks in california challenge that they won in the california supreme court striking down prop eight that was upheld by the federal court in california the ninth circuit and then the supreme court refused to hear it so that effectively struck down prop eight but it was a weird decision because they didn't say anything to the merits they said on procedural standing issues they were there because the california s
code so the doma law still keeps in place for example the other tax laws that relate to taxing of couples and so that's why again these same sex couples will be subject to the marriage penalty if they hit that one hundred fifty thousand dollars per per year income level which many will and we have just about thirty seconds left but we have to talk on prop eight which the supreme court said they were not going to rule on because what it is it's a win is a lose where are we with it's complicated...
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one of the main ones are simply as long as you keep profits overseas you don't pay tax on that many companies have taken advantage of that to keep much their profits overseas also one of their standard tricks apple's done this with great with great success they declare taxes in tax havens so ireland you see apple makes a huge share their profit nariman they don't actually make you know that much in ireland but that's where they declare their profit it's very difficult for the i.r.s. to keep track of that so there's a large number of tariffs loopholes that allow them to evade much of their tax obligation ok well do you think the incentive for some of these companies to keep this tax rate lower their left them go through these loopholes is because they supply americans with jobs doesn't really balance out no it's not helping you get jobs at all in fact quite the opposite i mean to some extent it gives companies incentive to relocate overseas so they could high taxes there i don't think that's a big factor in terms of their relocating overseas but it can be a factor but the idea that s
one of the main ones are simply as long as you keep profits overseas you don't pay tax on that many companies have taken advantage of that to keep much their profits overseas also one of their standard tricks apple's done this with great with great success they declare taxes in tax havens so ireland you see apple makes a huge share their profit nariman they don't actually make you know that much in ireland but that's where they declare their profit it's very difficult for the i.r.s. to keep...
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Jun 29, 2013
06/13
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FOXNEWSW
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>> i'm against taxes period. i'm against taxes period. putting taxes on anything to try to prevent people from using fails. >> mcdonald's.... >> how can you' indicate alcohol with mcdonald's? >> neil: melissa is going, i do want her back. you can see me on fox news and catch her. whatever you a wanted to do just watch espn. . that's why i like glucerna shakes. they have slowly digestible carbs to help minimize blood sugar spikes. [ male announcer ] glucerna. helping people with diabetes find balance. >>. >> neil: charles pain payne some winners. >> take a look at winnebago, people are getting back to the record and hercules, look at this company, strictly on call, drilling should be doing well. this company is poised to bring out big time. >> neil: i wish i had time for adam and ben. in the meantime,.... >> so five obamacare. uncle sam calling on major league baseball to tout obamacare about the young people are saying no thanks, we'll pass and without them, medical costs will soar. and it's. >> plus,.... >> what you see is what you get.
>> i'm against taxes period. i'm against taxes period. putting taxes on anything to try to prevent people from using fails. >> mcdonald's.... >> how can you' indicate alcohol with mcdonald's? >> neil: melissa is going, i do want her back. you can see me on fox news and catch her. whatever you a wanted to do just watch espn. . that's why i like glucerna shakes. they have slowly digestible carbs to help minimize blood sugar spikes. [ male announcer ] glucerna. helping...
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Jul 1, 2013
07/13
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KICU
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other taxes going up - gasoline. in california, maryland, virginia, kentucky, connecticut and vermont. "the fuel taxes, now's the time to raise them, because in the summer, more people are traveling." but elyashar says a gas tax is not a consistant source of revenue. students are facing higher costs, also - not a tax, but the interest rate on student loans is going up. an estimated 7 million students who plan to take out or renew loans after july 1st will find interest rates double from 3.4% to 6.8%. the hike in student loan interest rate does not affect the 37 million americans paying off existing loans. as we mentioned, today marks the start of the second half of the year. people on wall street are leery about whether the economy will pick up steam during the next 6 months. the s&p 500 is up more than 12% already this year. scott wren of wells fargo advisors predicts an uptick to 1700 in the s&p by the end of the year. "i think that the fundamentals are in place: we're in a modest-growth, modest-inflation environme
other taxes going up - gasoline. in california, maryland, virginia, kentucky, connecticut and vermont. "the fuel taxes, now's the time to raise them, because in the summer, more people are traveling." but elyashar says a gas tax is not a consistant source of revenue. students are facing higher costs, also - not a tax, but the interest rate on student loans is going up. an estimated 7 million students who plan to take out or renew loans after july 1st will find interest rates double...
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code so the doma law still keeps in place for example the other tax laws that relate to taxing of couples and so. that's why again these same sex couples will be subject to the marriage penalty if they hit that hundred fifty thousand dollars per per year income level which many will and we have just about thirty seconds left but we have to talk on prop eight which the supreme court said they were not going to rule on is why is this a when is this a lose where are we with the complicated the prop eight the supreme court decision was that they were not going to review the challenge to prop eight prop eight was passed by california voters to ban same sex marriages the. folks in california challenge that they won in the california supreme court striking down prop eight that was upheld by the federal court in california the ninth circuit and then the supreme court refused to hear it so that effectively struck down prop eight but it was a weird decision because they didn't say anything to the merits they said on procedural standing issues they were there because the california state refused to
code so the doma law still keeps in place for example the other tax laws that relate to taxing of couples and so. that's why again these same sex couples will be subject to the marriage penalty if they hit that hundred fifty thousand dollars per per year income level which many will and we have just about thirty seconds left but we have to talk on prop eight which the supreme court said they were not going to rule on is why is this a when is this a lose where are we with the complicated the...
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Jul 3, 2013
07/13
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CSPAN
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is taxed in the u.s.. for foreign country, generally speaking, when we sell something in a foreign country, it is taxed in the local market. and then if it is one of the being servedt are from ireland, those units are generally sold by an irish subsidiary. it is taxed to the degree it is going to be in the local jurisdiction. the proceeds moved to an irish sub. in many cases it is ali. ernings.s apple's .- earnings >> the many thousands of dollars to have gone from a over the years, do any of the proceeds from that actually get part in ireland or in any of the international countries under the aegis of international property? >> i think mr. volek could answer this better than i. >> the answer is no. 100 percent of the profits on any sale to a customer in the united states whether it is through the channels, or our online stores, all of that is taxed in the u.s.. there is no outbound payments going offshore. host: a report ordered by senator carl levin. here is the headline today. a government watchdog agen
is taxed in the u.s.. for foreign country, generally speaking, when we sell something in a foreign country, it is taxed in the local market. and then if it is one of the being servedt are from ireland, those units are generally sold by an irish subsidiary. it is taxed to the degree it is going to be in the local jurisdiction. the proceeds moved to an irish sub. in many cases it is ali. ernings.s apple's .- earnings >> the many thousands of dollars to have gone from a over the years, do...
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Jun 30, 2013
06/13
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FBC
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tax hikes kicking in. and some at forbes say we need tax cuts to get our economy booming again. i am dave asbin. welcome to forbes on fox. we'll have steve fosh and rick and elizabeth and mike andbill baldwin. >> tax rate cuts are always a good idea. reduce the price, risk taking and success and this is the way to get
tax hikes kicking in. and some at forbes say we need tax cuts to get our economy booming again. i am dave asbin. welcome to forbes on fox. we'll have steve fosh and rick and elizabeth and mike andbill baldwin. >> tax rate cuts are always a good idea. reduce the price, risk taking and success and this is the way to get
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Jul 5, 2013
07/13
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tax collectors. remember sa key whereas? these were members who were of the bottom of society, and that's where we're treating irs people, and i don't believe it's fair. you're hard working, dedicated civil servants who do your very best to administer the law. now, i, i'm going to stop my what i was going to say except to say one thing. i don't think bolo lists should be thrown out. every time i get on a united airlines flight to go home to seattle, before it leaves the ground the first officer leaves the cockpit and goes down with a bolo list. he is on the lookout for a lot of things on that plane. we do, you use it to organize your thinking. the american college of surgeons has just adopted bolo lists before they take somebody into surgery, there's a whole long checklist of things that they look at in anticipation before they put you under anesthesia and do surgery. we think that's the way you organize your thinking, and it's clear to me that a be on the lookout list is a good idea. so don't say you're going to throw them
tax collectors. remember sa key whereas? these were members who were of the bottom of society, and that's where we're treating irs people, and i don't believe it's fair. you're hard working, dedicated civil servants who do your very best to administer the law. now, i, i'm going to stop my what i was going to say except to say one thing. i don't think bolo lists should be thrown out. every time i get on a united airlines flight to go home to seattle, before it leaves the ground the first officer...
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john mackey defended apple's tax strategy and he said that we would use tax havens if you could so what about that if he could well unfortunately i guess he doesn't have much more foreign profits he's making i suppose the deal he wants to be more like apple which can stash most of its profits all over the world and it's fun with what's wrong with it is that you have no allegiance to any sort of country you want to call home i mean the fact that apple is an american company no that's not the case anymore apple has made international is an international company yeah that's right i mean we live in an international world these companies pay no allegiances or to any sovereign governments any country they might call home they only have allegiance to profit and that's it but let's look at the hurdles that apple faces in the u.s. ok we have osho we have incredible settlements to profitability all those hurdles those are things that you need to have in place so it will end up like bangladesh you have to deal with factory closures are not of bangladesh is poor ok when people in a civilization ok
john mackey defended apple's tax strategy and he said that we would use tax havens if you could so what about that if he could well unfortunately i guess he doesn't have much more foreign profits he's making i suppose the deal he wants to be more like apple which can stash most of its profits all over the world and it's fun with what's wrong with it is that you have no allegiance to any sort of country you want to call home i mean the fact that apple is an american company no that's not the...
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Jun 27, 2013
06/13
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CSPAN2
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other tax -- or preferences that some refer to as tax expenditures. mr. baucus: mr. president, i might say this blank slate is want, of course, the end of the -- is not, of course, the end of the discussion. we don't just clear the decks and stop. some of the revisions in the code obviously serve very important objections and that's why they're there in the first place. and some we will need to keep, clearly. why? to make sure the tax code is at least as progressive after tax reform as it is today. and i want to emphasize this approach is just a starting point. it's not a proposal. this is just a good, fair, balanced way, a good-faith way, including all members of the senate to get started, and we believe it's going to lead to a solution kind of the way that bertrand russell suggested -- you've got to state the problem in a way it's going to lead to a solution. we think this is a good way to get to that solution. mr. hatch: mr. president, indeed, we both believe that some existing tax expenditures should be preserved in some form. but the tax code is
other tax -- or preferences that some refer to as tax expenditures. mr. baucus: mr. president, i might say this blank slate is want, of course, the end of the -- is not, of course, the end of the discussion. we don't just clear the decks and stop. some of the revisions in the code obviously serve very important objections and that's why they're there in the first place. and some we will need to keep, clearly. why? to make sure the tax code is at least as progressive after tax reform as it is...
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Jul 1, 2013
07/13
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CNBC
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slate when it comes to tax reform. senator max baucus and senator orrin hatch say any tax breaks should be restored only if they grow the economy and make the tax code fair. >> i don't know if lobbyists have enough money. >> fair is such a loaded term. we will be speaking to erskin bowles and former co-care of the national commission of fiscal responsibility and reform at the top of the next hour right here on "squawk box". >> energying is ernest money says iran is not a dominant player in the market and inkreegsd production elsewhere can more than make up for any shortfall. they expect a further because of the tightening of economic sanctions against that company. >> egyptians taking the streets and demanding the resignation of islamist president, joining us on the squawk news line, a talk about the unrest in egypt, ian bremer, we probably look at this as a whole and we can't. because it's not monolithic what goes on over there. in turkey, i fixed everybody was sort of pushing back against a less secular state. where
slate when it comes to tax reform. senator max baucus and senator orrin hatch say any tax breaks should be restored only if they grow the economy and make the tax code fair. >> i don't know if lobbyists have enough money. >> fair is such a loaded term. we will be speaking to erskin bowles and former co-care of the national commission of fiscal responsibility and reform at the top of the next hour right here on "squawk box". >> energying is ernest money says iran is...
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tax receipts for the government you know it's interesting it actually will increase tax receipts in some circumstance in certain states right well and also if you have for example a couple where one one the husband is high earning and his husband is lowering your put their funds together it's like the marriage penalty and it actually pay more in taxes and also when it comes to benefits for example to single people get different medicaid benefits or medicare benefits that a married couple might bring more money in that way but it reduces money in things like estate taxes and otherwise so in that it is a beneficial for thing for our financial system you know i don't know in that the it's a very large impact one way or the other the main impact of course is treating couples fairly well i think the main impact is that it's just it's civil rights for people and that's what we need i like this document that you keep how i can very take all the time really all the time all the time not swimming in the shower but otherwise i do keep my conversation with me ok stay tuned because we'll be right ba
tax receipts for the government you know it's interesting it actually will increase tax receipts in some circumstance in certain states right well and also if you have for example a couple where one one the husband is high earning and his husband is lowering your put their funds together it's like the marriage penalty and it actually pay more in taxes and also when it comes to benefits for example to single people get different medicaid benefits or medicare benefits that a married couple might...
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john mackey defended apple's tax strategy and he said that we would use tax havens if you could so what about that if he could well unfortunately i guess he doesn't have much more foreign profits he's making i suppose the deal he wants to be more like apple which came to stash most of its profits all over the world and also with us what's wrong with it is that you have no allegiance to any sort of country you want to call home i mean the fact that apple is an american company no that's not the case anymore apple have is an international is an international company yeah that's right i mean we live in an international world these companies pay no allegiance is to any sovereign governments any country they might call home they only have allegiance to profit and that's it but let's look at the hurdles that apple faces in the u.s. ok we have osho we have incredible settlements to profitability all those hurdles those are things that you need to have in place so it will end up like bangladesh you have to deal with factory closures are not of bangladesh is poor ok when people in a civilization
john mackey defended apple's tax strategy and he said that we would use tax havens if you could so what about that if he could well unfortunately i guess he doesn't have much more foreign profits he's making i suppose the deal he wants to be more like apple which came to stash most of its profits all over the world and also with us what's wrong with it is that you have no allegiance to any sort of country you want to call home i mean the fact that apple is an american company no that's not the...
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Jun 30, 2013
06/13
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KNTV
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tax aversion is completely legal. tax evasion is not. under carried interest they are paying less and that's how they want to keep it. when people watch the elections, this is how mitt romney got so rich, right? i mean -- that's how warren buff s et got so rich, has a low are tax rate than his second. >> scott, you have a house, right? when you buy your house you take out a loan and put money in but the bank puts most of the money in. when you sell your house, hopefully you make a profit. that profit i think $250,000 is capital gain. would you like that to be taxed -- >> i see what you're saying because -- >> the money is locked up for a long way. you've worked on the house i assume and improved it, that is what a money manager or bench capitalism will say we do. >> great analogy, the bank took most of the risk and i took a smaller risk, a down payment. >> that's a risk to me. >>y know we were talking about my money. that's an entirely different -- >> what happens to silicon valley if this carried interest goes away? >> you know, i think
tax aversion is completely legal. tax evasion is not. under carried interest they are paying less and that's how they want to keep it. when people watch the elections, this is how mitt romney got so rich, right? i mean -- that's how warren buff s et got so rich, has a low are tax rate than his second. >> scott, you have a house, right? when you buy your house you take out a loan and put money in but the bank puts most of the money in. when you sell your house, hopefully you make a profit....
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tax rate so shouldn't companies making billions of dollars be at least in the same income tax rate as you and me. it seems like it would make sense i haven't looked at the at the study you're you're looking at some i think they play they pay plant plenty of taxes. you know i've never been against them paying taxes and i was never necessarily against the buffett rule what i am against is something like dodd frank which applies all these onerous regulations and sets up a lot of people don't realize that the stimulus was actually created a lot of government agencies it's instead of giving money to businesses which is what i thought it was supposed to be doing it actually said to set up a lot of regulatory agencies that oversee businesses those dodd frank is about banking and it's because the banks crashed or i was always in favor of compromising from the republican side on the buffett rule and saying all right you have raised one trillion dollars now what we do about the other fifteen trillion and then make a new plan but i was never against the buffett unnecessary. corporate taxes in am
tax rate so shouldn't companies making billions of dollars be at least in the same income tax rate as you and me. it seems like it would make sense i haven't looked at the at the study you're you're looking at some i think they play they pay plant plenty of taxes. you know i've never been against them paying taxes and i was never necessarily against the buffett rule what i am against is something like dodd frank which applies all these onerous regulations and sets up a lot of people don't...
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Jun 29, 2013
06/13
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FBC
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maryland is looking at a touch of the $500 tax on handgun licenses and a 50 percent tax on ammunition. also an effort here in washington and congress to add a federal 10 pernt tax on handgun purchases. use that money to find a gun safety and violence preventn programs. >> gunsre responsible for homicides and violence in our society. they're is a price that our society pays for that. i don't think it is unfair to link those tngs with prevention programs. >> critics say this is an assault on the second amendment. republican lawmakers have proposed federal legislation that prevents states or local governments under the commerce clause from impooing new taxes. >> you purchase a firearm in the united states, you have to do it in your state, which means you can go to another state and purchase it unless it comes through dealer in your state. there's no way to get aund it. if the state imposes a tax, there is no way you can get around it. you can't just go to another state. >> the new taxes unfairly burden people who are not wealt, but still want to protect their family, property, or theelve
maryland is looking at a touch of the $500 tax on handgun licenses and a 50 percent tax on ammunition. also an effort here in washington and congress to add a federal 10 pernt tax on handgun purchases. use that money to find a gun safety and violence preventn programs. >> gunsre responsible for homicides and violence in our society. they're is a price that our society pays for that. i don't think it is unfair to link those tngs with prevention programs. >> critics say this is an...